BUZZ-India's equity benchmarks hit two-week high on signs of US-Iran peace talks progress

** India's Nifty 50 .NSEI and Sensex .BSESN up 1.1% and 1.2%, respectively

** Benchmark indexes hit two-week high on optimism over progress in U.S.-Iran peace talks

** U.S. President Donald Trump on Saturday said Washington and Iran had "largely negotiated" a memorandum of understanding on a peace deal

** However, Sunday's comments from U.S. administration downplaying an imminent deal capped gains

** Brent crude futures LCOc1 slump 5.6% to $97.74 per barrel, while rupee INR=IN strengthens 0.5% against dollar to 95.1875

** All 16 major sectors trade higher; broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 up 1.4% and 0.9%, respectively

** Heavyweight financials .NIFTYFIN jump 1.8%, led by 2.3% and 1.3% jump in HDFC Bank HDBK.NS and ICICI Bank ICBK.NS

** Oil marketing companies Indian Oil IOC.NS, BPCL BPCL.NS and HPCL HPCL.NS rise 3.5% to 3.9% on lower crude oil prices and hike in local fuel prices

** Colgate-Palmolive (India) drops 2.3% on margin pressure in Q4



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